Sweden’s Volta Trucks said on Friday that it had raised 230 million euros in a financing round to finance the production of its Volta Zero electric truck at the end of 2022.
Volta Trucks said the funding round was led by hedge fund Luxor Capital, which had previously invested in the company.
Investor Byggmastare Anders J Ahlstrom Holding also participated in the funding round, which brings Volta Trucks’ total to around €300 million.
The prototypes of the Volta Zero, a 16-tonne all-electric truck, will be delivered to customers in mid-2022, with series production starting at the end of the year.
The latest funding helps us meet all of our goals as we transition from a startup to an all-electric truck manufacturer,” said Volta Trucks Chief Executive Essa Al-Saleh.
The company said its backlog now exceeds 5,000 vehicles, with a total value of 1.2 billion euros. Volta plans to raise annual production to 27,000 by 2025.
Source: CNN Brasil
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